Asset Migration - An overview

Asset Migration – An overview

Introduction

Asset Migration is the initial entry of the entire asset history from the legacy system or manual records to the new system. The data pertaining to a specified period prior to the Fixed Assets installation date is migrated from the legacy system to a new application.

Asset migration can capture the closing balances alone or the entire transaction details

Depending upon the user requirement. In case of asset migration both the master data (like asset description, asset tags, asset location etc.,) and the transaction data (like depreciation charge, asset cost, revaluation cost) pertaining to the asset is transferred from the legacy system.

Feature Highlights

Support for verification of initial asset entry – sum of asset, cumulative depreciation and revaluation surplus is same as in Book Keeping.
Support for capturing asset history through initial asset entry
Provision to migrate the asset history from the legacy system by uploading the data through utilities like Microsoft Excel.
Support for entering asset history details without definition of financial calendars.
Provision to specify the number of years for which the asset history required.
Provision to upload the data in batch.

List of Activities

Go to Activity…	For…
Create Initial Asset Entry.	Creating legacy asset and its property into the system.
Create Initial Balance	Creating asset balance in to the system.
Copy Asset Balances	Copying asset balances from one book to another book.
Upload Initial Asset Entry	Uploading the legacy asset in to the system.
Upload Initial Balance	Uploading asset balance.
View Initial Asset Entry	Viewing legacy asset that is entered in the system.
View Initial Balance	Viewing initial balance